The exports of textiles and garments from China to the EU countries fell sharply by 21.4 percent year-on-year to US$ 5.5 billion in July this year.
The exports of textiles and garments from China to the EU countries fell sharply by .... percent year-on-year to #
The decline in China’s textiles and apparel exports to the EU nations in July was the second highest drop after February this year.
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From January to July this year, China’s textiles and garment exports to EU totaled US$ 26.81 billion, showing a decrease of 14.3 percent. Of these, the exports to the original 15 EU nations dropped 15.3 percent year-on-year.
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The EU accounts for 20 percent of China’s total textile and apparel export market. The fall in Chinese exports to the EU, its largest market, led to a decrease in China’s overall textile and apparel exports during the first seven months of 2012.
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In fact, the EU economic situation has worsened further in the second half of 2012.
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According to the European Commission, Europe consumer confidence index was -20.3 in July, compared to the index of -19.7 in the month of June.
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In the euro area, the consumer confidence index was -21.6, as against index of -19.8 a month earlier.
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Fibre2fashion News Desk - China